Lindsay Corporation Announces Appointment of Senior Vice President, Strategy & Business Development

Rhea-AI Summary

Lindsay Corporation (NYSE: LNN) has appointed Brian Magnusson as Senior Vice President of Strategy & Business Development. This newly created position aims to advance the company's strategic growth plan and value creation through corporate strategies, including partnerships and M&A. Reporting to President and CEO Randy Wood, Magnusson has extensive experience since joining Lindsay in 2015 and held various key roles. Wood expressed confidence in Magnusson's ability to drive growth through strategic initiatives. Magnusson aims to enhance Lindsay's strategic vision and deliver value to customers and shareholders.

Positive

• Appointment of Brian Magnusson expected to accelerate strategic growth initiatives.
• Magnusson's prior experience within the company may foster continuity and innovation.

Negative

• Potential concerns regarding continuity in leadership during the transition.

Role to focus on accelerating company's strategic growth plan

OMAHA, Neb., Feb. 14, 2023 /PRNewswire/ -- Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, recently announced the appointment of Brian Magnusson as Senior Vice President, Strategy & Business Development. In this newly created role, Magnusson is responsible for accelerating Lindsay's strategic growth plan and value creation through enterprise-wide corporate strategies, including strategic partnerships and mergers and acquisitions ("M&A"). He reports to Lindsay's President and CEO, Randy Wood.

"We are well-positioned to accelerate our growth through strategic partnerships and M&A activity, and we're fortunate to have someone with Brian's experience and skillset on our leadership team," said Wood. "Brian has held key positions in our commercial and technology businesses, and his relationships across our industries will be an asset as we focus on strategic growth."

Magnusson joined Lindsay in 2015 as Vice President of Technology and had responsibility for innovation and development of FieldNET^© and other digital products. Most recently he served as Vice President for North and South America Irrigation. Prior to Lindsay, Magnusson served as Global Director, Tractor Portfolio Management at CNH Industrial and as Case Team Leader with Bain & Company, advising executive teams at Fortune 500 corporations on strategic growth challenges.

"I'm excited to accept this new opportunity and continue driving growth across the Lindsay portfolio," said Magnusson. "I look forward to collaborating with our leadership team to enhance our overall strategic vision and deliver significant value for our customers and shareholders."

About Lindsay Corporation
Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world's rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic® center pivot and lateral move agricultural irrigation systems, FieldNET® remote irrigation management and scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world's roads, bridges and tunnels, through the Barrier Systems®, Road Zipper® and Snoline™ brands. For more information about Lindsay Corporation, visit www.lindsay.com.

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SOURCE Lindsay Corporation

FAQ

Who is Brian Magnusson at Lindsay Corporation?

Brian Magnusson is the newly appointed Senior Vice President of Strategy & Business Development at Lindsay Corporation, responsible for accelerating the company's strategic growth plan.

What are Brian Magnusson's responsibilities at Lindsay Corporation?

Magnusson is tasked with enhancing strategic growth through corporate strategies, including partnerships and mergers and acquisitions.

When was Brian Magnusson appointed to his role at Lindsay Corporation?

Brian Magnusson was appointed as Senior Vice President of Strategy & Business Development on February 14, 2023.

What impact might Magnusson's appointment have on Lindsay Corporation's stock (LNN)?

Magnusson's appointment may positively impact Lindsay Corporation's stock by accelerating growth initiatives and enhancing strategic vision, potentially leading to increased shareholder value.

How does Magnusson's experience benefit Lindsay Corporation?

Magnusson's extensive experience within Lindsay and prior roles in strategic growth positions may strengthen the company's leadership and innovation capabilities.